Annuity Base

Open Market Option Comparisons for Pension Income

Share |

The Difference Between The Best And Worst Pension Incomes Can Be Very Surprising

Aegon Annuities Aviva Annuities Axa Annuities Canada Life Annuities Friends Life Annuities Hodge Annuities Just Retirement Annuities Legal and General Annuities LV Annuities
MGM Annuities Novia Annuities Old Mutual Annuities Partnership Annuities Phoenix Annuities Pru Annuities Royal London Annuities Scottish Widows Annuities Zurich Annuities annuities

We value your privacy: The same as almost all sites, we use computer files called cookies that measure how many people use the site. They can't be used to identify you personally. If you continue without changing your settings, we'll assume that you are happy to receive cookies. We don't share your information with 3rd parties.

Looking for an alternative to an annuity? Visit Annuity Answers.

Archived Annuities News / Income Drawdown News

What's happening in the world of pensions

News and articles about annuities, pensions and income drawdown


By following any news links you will be leaving the Annuity Base site and we are not responsible for the accuracy of the information contained in any other site or the regulatory status of any other firm within the linked sites accessible from this site.

Please visit our main annuities news page for more news.

Pre-retirees putting away just 2.5% of monthly income

Far from building up a nest egg for the future, the average pre-retiree is setting aside just 2.5% of their income for savings, according to the results of a new study.

The findings from Aviva’s September Real Retirement Series reveal that despite the fact that pre-retirees (55-64s) have the highest gross monthly income (£1,560) of all over-55s, they are earmarking just £39 (3.2%) each month for their retirement savings pots.

In contrast the group defined as ‘the retiring’ (65-74) have a lower average monthly income of £1,488 and invest a savvier 4.2% of this figure (£62) into their savings. The long-term retired (over-75s) save an equal percentage of 4.2%, setting aside a monthly figure of £61 from an average monthly salary of £1,451.

Shockingly more than a third (38%) of pre-retirees set aside nothing each month for savings, while a further 18% have no savings pot at all.

Commenting on the figures, Clive Bolton, Managing Director of the At Retirement business at Aviva, said that it is critical for those approaching retirement to plan for their financial futures:

"It's vital that people take an active role when they retire to make sure that they get the best retirement they can. The first step towards this is taking a little time to understand all of the options retirees have open to them.

"For many this may seem confusing or daunting at first, but it's incredibly important.”

Further figures revealed that over-55s are exercising more caution over their pension provision, with up to 75% members of a pension scheme.

Around 600,000 people are expected to be saving for a pension by Christmas as a result of the start of automatic enrollment next month.

Please visit our main annuities news page for more news.

Make Contact Now

Take action now and uncover the differences

Receive a FREE Pension Annuities Comparison Quote

Please complete the free no-obligation enquiry form and see the surprising differences between one annuity and another. Remember your enquiry is free.

There is no charge for us investigating your policy and you are under no obligation to follow any recommendations that are made.

Your annuity specialist is registered with the Financial Conduct Authority (FCA).

We will:
1. Search the whole of the market for you so you are more able to make a decision
2. Check if you are eligible for an enhanced annuity that could increase your income
3. Give you access to more flexible options including fixed term annuities and income drawdown, should you wish


Your Age (You must be aged 55 or over)
Do you already have an annuity? (If so, sorry, we cannot help. Annuities cannot be cashed in at this time.)
Preferred contact phone number
2nd number just in case (optional)
Email address (optional)
Annuities PRIVACY PROMISE: We will never share your data or spam you. Data Protection No. Z1760988